I have followed this show from its beginning, and even invested in importing the manga. Admittedly, the "Kujibiki Unbalance" manga and anime were not all that great, but that serves as an ironic critique of the fictional Otaku in Japan, who considered it to be so phenomenal. The anime version of KU also came with OVAs for Genshiken, trying to catch up on what was going on with the club since we left them at the end of Season 1.

Genshiken II picked up where the OVAs left off, and gave us a taste of the club as it began to emphasize cosplay and yaoi. In Genshiken Nidaime, the third season (or fourth, if you want to count the OVAs as a "season") we get to see the club as it gets entirely new members, who cement the lean towards yaoi. We get cameos from members who've graduated or dropped out of school, with Madarame getting the most attention.

This show could conceivably go on forever, with one generation after the next keeping the club active, while presenting the viewer with the "Zeitgeist" of Japanese Otaku culture. That would be fine by me.